 "On the operating front, margins expanded both sequentially and over the year ago levels")
Bharat Forge reported a sequential uptick in revenues in the December quarter (Q3), led by strong growth in the domestic business, which accounts for over 60 per cent of consolidated revenues.
This came on the back of a 25-per-cent rise in volumes (tonnage). Revenues from the India commercial vehicle (CV) segment grew 49 per cent year-on-year (YoY), led by a pick-up in economic activity.
Though CV demand is expected to pick up pace with an increase in infrastructure, mining, and construction projects, the management is cautious about near-term prospects, as retail sales were not in line with wholesale numbers. Demand
